- Some major projects will unlock their tokens in August.
Ripple, Avalanche, and Wormhole will see the most of the unlocks.
As a seasoned crypto investor with over five years of experience in the digital asset market, I find August to be an exciting month filled with potential opportunities and challenges. The upcoming token unlock events, particularly for Ripple, Avalanche, Wormhole, dYdX, Sui, Aptos, Arbitrum, and others, promise a significant influx of tokens into the market, potentially worth over $1 billion in total.
August is poised to bring major developments in the cryptocurrency scene, marked by numerous token unlock occurrences. Approximately $1 billion worth of tokens are set to be released during these events.
Significantly, significant initiatives like Avalanche (AVAX) and Arbitrum (ARB) are slated to take part in these release events.
Ripple to majorly contribute to token unlock
Starting from 2017, Ripple (XRP) has adhered to a regular practice of releasing 1 billion tokens at the beginning of every month, and it looks like August will continue in this fashion as well.
1. In August, it’s projected that the release will have a value of approximately $600 million according to the current market price of XRP at the time of reporting.
1. It’s worth noting that Ripple frequently locks up a significant amount of its unrestricted XRP in escrow. Exactly how much XRP Ripple decides to lock away following each unlocking period is not clearly defined.
Other unlock events in August
dYdX
Beginning in August, the dYdX [DYDX] platform will initiate a substantial token release event, according to Token Unlocks’ data. Approximately 8 million dYdX tokens, with a total worth exceeding $11 million, are planned for distribution.
A significant portion of these tokens is distributed to investors, which could result in heightened trading action within the market.
Sui
Beginning on August 1st, more than 64 million tokens in the Sui Network (SUI) will become accessible, with an estimated market value of approximately $50 million based on current prices.
The majority of these investment tokens have been assigned to Series A and Series B investors. This implies a significant transfer of tokens to the project’s early supporters.
Wormhole
On August 3rd, a significant event is scheduled for the Wormhole network, as it’s set to release approximately 600 million tokens from its token unlock.
As a researcher, I would describe this unlock as a significant financial resource, worth over $174 million, exclusively allocated for community projects and launch activities.
Aptos
On August 12th, APT, formerly known as Aptos, is set to unveil a significant milestone with the unlocking of around 11.3 million tokens from its reserve.
Boasting a value exceeding $79 million, this upcoming unlock is designed to distribute tokens among various groups, including community members, the foundation, key contributors, and investors. A significant portion of these tokens will be allotted to core contributors and the community itself.
Arbitrum
In August, Arbitrum’s [ARB] token release aims to distribute over 92.6 million ARB tokens, currently worth approximately $67 million. Notably, a significant share of these tokens has been allocated to the development team.
Avalanche
Preparing for its significant milestone, Avacanche anticipates the imminent disbursement of around 9.5 million AVAX tokens, equivalent to more than $273 million in value, during August.
4.5 million AVAX, worth roughly $128.7 million, is earmarked for distribution to the project’s team.
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2024-07-29 22:15